CAclubindia

Queries Replied : 852

I am ACS Chetan working as Practising Company Secretary

you can ask me questions related with Company Law, Income Tax and GST. contact me for professional advise @ 9781893651

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Aviran Nandy says : Form 16b
Its a lil urgent, i m planning to for registration tosay 1 pm, paid my TDS on tuesday, i.e 6th July....Traces shows no data available. NEED SERIOUS HELP 9845250512/9051404048 THANKS IN ADVANCE FOR ALL THE GOOD WORK

d s bhat says : LEAVE ENCASHMENT
I THINK CASE IS PENDING AT CHENNAI COURT, WHETHER FOR BANK EMPLOYEES LEAVE ENCASHMENT IS EXEMPTED AT PRESENT 3 LAKH IS ONLY DEDUCTION AVAILABLE FOR BANK EMPLOYEES BANKS ARE ALSO DEDUCTING TDS

G Nagendra Rao says : income tax
I was advised that if net profit is below 8% of turnover, then it is better to get tax audit is done even though the turnover is less than one crore. but you say file ITR-3 and no need of tax audit. Kindly elaborate and oblige

Rammohan says : Capital Gain on property sale
Sir, You have replied to the query of 123456 dt. 30.6.2020 on this subject. I believe the FMV of land/buildings as on 1.4.2001 is capped at the Stamp Duty rate of the property on that date, irrespective of the FMV if the latter is higher than the stamp duty value. This provision is from the Finance Bill (Budget 2020, 1.2.2020). Kindly confirm if my understanding is correct. Thanks.